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we have done $2.5 trillion in deficit. it's brought the deficit down, but not enough. we're not under 3% as a percentage of our economy and our -- >> gene, we still have $16.5 trillion in debt. let's talk about the here and now. the $16.5 trillion in debt. it's getting higher, not lower. our audience knows this. >> marimaria, obviously your audience what they care about is as a country to have a stable debt as a percentage of their economy. is their deficit below 3% so that your debt as a percentage of your economy is coming down and stabilized. that's what gives people confidence to invest. and that's been the goal i think of both parties. now, we have lowered the deficit. the projection of deficit as percentage of our economy. but we're seeing it's not enough. that's why this president is willing to go forward with an additional $1.8 trillion in deficit reduction which is what was the remaining amount that was on the table when he was speaking with speaker boehner and negotiating. now, the president's still willing to put that offer on the table with all the difficul
we have done $2.5 trillion in deficit. it's brought the deficit down, but not enough. we're not under 3% as a percentage of our economy and our -- >> gene, we still have $16.5 trillion in debt. let's talk about the here and now. the $16.5 trillion in debt. it's getting higher, not lower. our audience knows this. >> marimaria, obviously your audience what they care about is as a country to have a stable debt as a percentage of their economy. is their deficit below 3% so that your...
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reduction. >> howard dean is more of a deficit hawk? this year's deficit 800 billion and next year's 600 billion. short-term phenomenon and there's a report of health care costs down now, and i don't know if it's a structural or cyclical spin. >> i've been on this point for a while so i'm glad it's getting broader attention. >> health care costs are declining. >> the rate of growth is much more slowly. it's been several years so it's harder to write it off as just kind of a fleeting moment, and if it continues, that has a far larger impact on the long-term deficit than anything the guys in washington are going to put aside. >> that's why the president's rhetoric on taxes might matter to wall street this time >> good to see you guys. thank you, both. >> thanks, peter. thank you, ron. >> tune into the state of the union right here on cnbc beginning at 9:00 p.m. eastern time. carl kwinquintanilla and john harwood hosting our coverage. >> the market is up above 14,000 with a gain of 52 point on the dow. >> we'll see if it stays there. the f
reduction. >> howard dean is more of a deficit hawk? this year's deficit 800 billion and next year's 600 billion. short-term phenomenon and there's a report of health care costs down now, and i don't know if it's a structural or cyclical spin. >> i've been on this point for a while so i'm glad it's getting broader attention. >> health care costs are declining. >> the rate of growth is much more slowly. it's been several years so it's harder to write it off as just kind...
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Feb 5, 2013
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what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half. given that, does it make you more inclined to sign on to the president's plan? >> look, house republicans passed last august a plan to change the mix of those spending cuts in the first year, and that's still out there, but what the president did, he's got his revenue at beginning of the year. more revenue will just hurt the economy. it will cost us jobs, so what we really need now is the second piece of the balanced approach the president called for in december which is the beginning of reining in our debt and deficits. again, on the president's commi
what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half....
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some say growth initiatives must await final action on deficit reductions. well, the best way to reduce deficits is through economic growth. [ applause ] get ready for a lot more of that new-plane smell. we're building the youngest, most modern fleet among the largest us airlines to ensure that you are more comfortable and connected than ever. we are becoming a new american. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." in this half hour, mahmoud ahmadinejad says iran is now a nuclear country. does that mean the rogue regime already has nuclear weapons? we'll get an answer later on. on what would have been president reagan's 102nd birthday, we will honor reagan with a look at many of his messages that resonate today. we have more of
some say growth initiatives must await final action on deficit reductions. well, the best way to reduce deficits is through economic growth. [ applause ] get ready for a lot more of that new-plane smell. we're building the youngest, most modern fleet among the largest us airlines to ensure that you are more comfortable and connected than ever. we are becoming a new american. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their...
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most are looking for solutions toward reigning in long-term deficits and debt. don't get me wrong. it is a good thing the countries are looking for ways to great youth within their own
most are looking for solutions toward reigning in long-term deficits and debt. don't get me wrong. it is a good thing the countries are looking for ways to great youth within their own
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the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the republicans have a different approach. we believe we have to rein in entitlement spending, the budgets up until now. again across the aisle and on the other side, they're unwilling to handle. >> we'll leave it there. thank you. >> let you both get back to work. thanks for joining us. >> thank you. >> appreciate your time. thanks very much. isn't it nice to know in two weeks you haven't missed anything? >> this sounds familiar. >> 40 minutes before the closing bell sounds. dow down 103 points. >>> google getting downgraded after a record high on friday when we allegedly hit 14,000. why did that happen? and are you
the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the...
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they see big deficits. this is an opportunity to real against deficits and of course what you must do is cut social security benefits for some reason to deal with the current deficit and so that's a big part of it. and that influences the debate. the other thing is there are a lot of people in d.c. who posture, whose persona is that of being serious and you show that by being lling to impose suffering and cuts. the serious thing to do right now to spend is very, very. so they don't -- i think they just find it hard to even wrap their minds around the notion that the opposite of what they usually call for is what you need to do right now. >> and i think that's particularly true in the case after financial crises. in your earlier book you talk about the idea that there's a sense -- deep intuitive moral sense in which people feel you need to pay penance, right? >> right. >> if there's been crisis, there's been sin, and the only way to get oust sin is penance, and you have a great argument about that in your bo
they see big deficits. this is an opportunity to real against deficits and of course what you must do is cut social security benefits for some reason to deal with the current deficit and so that's a big part of it. and that influences the debate. the other thing is there are a lot of people in d.c. who posture, whose persona is that of being serious and you show that by being lling to impose suffering and cuts. the serious thing to do right now to spend is very, very. so they don't -- i think...
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and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic workers. manufacturing jobs are amongst the best, especially those without a college degree. high wages, good tendency, compared especially to other work in the economy. >> great, thanks. bruce, you work in washington d.c. at dupont. >> i mostly on a plane though. >> i'm just going to say -- in washington d.c., industrial policy is a dirty word, but if you go many other domestic way, while managing a city that practice is something that looks to me like industrial policy. they're picking and winners and losers in giving tax credits to specific companies and trying to build clusters. what's the best wa
and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic...
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
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what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on the debt, those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about a trillion dollars. you all just heard what the deficit was last year, $1.3 trillion, meaning that you could do away with the entire federal government with the exception of medicare, medicaid, social security, and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. it's incumbent upon us to come up with solutions, positi
what's happened to the deficit? the annual deficit? 2008 deficit was $458 billion. too much money, yes, but deficit in 2013, $1.3 # trillion. what's the problem? ladies and gentlemen, i suggest to you that we have a spending debt crisis, not a revenue debt crisis. you got to make the right diagnosis. to put it in a little greater context. we spend $3.6 trillion as a nation as a whole each year, $3.6 trillion, about $2.5 trillion of that is medicare, medicaid, social security, and interest on...
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. >>> when thele toings who are responsible for solving our debt deficit issues are the same ones against cost-cutting at the post office, it means we're in pretty deep trouble. we'll talk about it next. stay with us. ak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed. >>> and final
. >>> when thele toings who are responsible for solving our debt deficit issues are the same ones against cost-cutting at the post office, it means we're in pretty deep trouble. we'll talk about it next. stay with us. ak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell...
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he said he is still hopeful for a bigger deal to address the debt and the deficit. >> a lot to talk about with our next guest. reaction from capitol hill from kentucky republican senator rand paul. we welcome you, snofrenator. do you think we'll get a deal on the sequestration issue before march 1st? >> you know, all these people carping about sequestration being harmful to the economy. that would presume that the government creates wealth by spending money. i think that's a ridiculous keynesian notion that's been disproved for the last 40 years. so i think cutting spending is precisely what you should do to spur the economy. when money comes to washington and it's spent, that's how it's disruptive and spent inefficiently. let's leave that money in the marketplace. >> are you saying you want to see the sequester happen? >> the sequester barely cuts any icing off the top of the cake. spending is going to rise $9 trillion over the next ten years. the sequester takes 1 trillion off of that. spending still goes up $8 trillion over the next ten years. that's why bowles/simpson said we need 4 t
he said he is still hopeful for a bigger deal to address the debt and the deficit. >> a lot to talk about with our next guest. reaction from capitol hill from kentucky republican senator rand paul. we welcome you, snofrenator. do you think we'll get a deal on the sequestration issue before march 1st? >> you know, all these people carping about sequestration being harmful to the economy. that would presume that the government creates wealth by spending money. i think that's a...
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can reduce its budget deficit. john harwood has more. >> the big question in washington is what is the next budget deal to reduce the deficit going to be? what is going to be in it? will it be spending cuts or revenue? the president said in the super bowl interview with scott pelley yesterday that it has to include revenue and singled out one in particular, that is the carried interest loophole. >> i don't think the issue right now is raising rates. there is no doubt we need additional revenue coupled with smart spending reductions, in order to bring down our deficit. and we can do it in a gradual way so it doesn't have a huge impact. the average person doesn't have access to carried interest income where they end up paying a much lower rate on billions of dollars that they have earned. >> now, going into the president's favor as he tries to go after this is a widespread belief on wall street, even that this is an unjustified loophole, one of the top figures on wall street told me the other day it is an outrageous
can reduce its budget deficit. john harwood has more. >> the big question in washington is what is the next budget deal to reduce the deficit going to be? what is going to be in it? will it be spending cuts or revenue? the president said in the super bowl interview with scott pelley yesterday that it has to include revenue and singled out one in particular, that is the carried interest loophole. >> i don't think the issue right now is raising rates. there is no doubt we need...
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trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet from out of my mitten to the pavement and it's gone. >> it's like every six months for you. >> do you have a case? >> now i'm going to spend money on the case? so i have a blackberry filling in. brian, look at this. whoops. oh, i dropped it. let me see. do i have to buy a new one? look. >> and it still works? >> it still works. it's unbelievable. look. that happened. i did that to the iphone yesterday and it cracked and it turned black, and now we must replace it. >> my wife has the -- >> sam, check that, see if it works. >> the only basically indestructible case for the
trade deficit data which was at the lowest trade deficit for the u.s. since january of 2010, so that's some positive news. we also have mcdonald's importing their global sales down about 2% so that's a little bit of a drag on the dow jones industrial average. but i know the most important story of the day for you has to do with apple and its $137 billion worth of cash but it still can't protect your phone. >> no, it can't. it can't. i'm telling you. i lost another one -- went 2 1/2 feet...
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alienating the tea party people because he's been so consistent on other things the tea party cares about, deficit and other things. i don't think he does. i think they give him a pass on this because he is hispanic and he would go along and be in strong shape for 2016. >> the man who wrote the article said marco rubio has been able to walk the line or bridge the gap between traditional republicans or establishment and the tea party and then he's been able to do that because i like the line, he said that he speaks conservative as a first language. >> that's absolutely true. i do slightly disagree with what bob said, that's the reason why they're going to give him a pass is because he's hispanic. i don't think so. i think to your point, it's because he's incredibly persuasive and able to finally bring people together. if you listen to him go around and do those talk radio interviews with some of his most ardent critics last week, i mean, not just talk radio, but people on the very far right, they have come his way. he's very persuasive. i thing i love is he's not persuasive about the dumb stuff. he
alienating the tea party people because he's been so consistent on other things the tea party cares about, deficit and other things. i don't think he does. i think they give him a pass on this because he is hispanic and he would go along and be in strong shape for 2016. >> the man who wrote the article said marco rubio has been able to walk the line or bridge the gap between traditional republicans or establishment and the tea party and then he's been able to do that because i like the...
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we're running trillion-dollar deficits. my goodness. >> i'm fwlad to hear you say that you're open to cuts, more nondiscretionary cuts because both sides always go to the discretionary domestic spending because those are the quote, quo easy cuts. is that your position? >> very much so. look, we've got an entitlement crisis. and that's where the real money is. you know, we're going to have to reform those programs or we're going to lose them. and i don't want to lose social security or medicare or medicaid, but they've got to change dramatically. we tried to do that in the ryan budget last year. i think we'll see us even more aggressive this year. that's where we've got to go. we're not going to lose these cuts. they're in law. the same way the president enjoyed the advantage in the fiscal cliff negotiations, the tax increases were in law and the best we could do was negotiate and save as many of the bush tax cuts as we could. now, you know, these cuts are in law. so they're going to occur, and he should sit down with us and
we're running trillion-dollar deficits. my goodness. >> i'm fwlad to hear you say that you're open to cuts, more nondiscretionary cuts because both sides always go to the discretionary domestic spending because those are the quote, quo easy cuts. is that your position? >> very much so. look, we've got an entitlement crisis. and that's where the real money is. you know, we're going to have to reform those programs or we're going to lose them. and i don't want to lose social security...
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so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare, medicaid, social security and interest on the debt. those four things. the entire federal government, the rest of the entire federal government, everything, everything, post office, roads, transportation, justice, education, energy, defense, everything else is about $1 trillion. you all just heard what the deficit was last year. $1.3 trillion. which means we can do away with the entire federal government with the exception of medicare, medicaid and social security and we wouldn't even balance the budget. that's the magnitude of the challenge that we have. so it's incumbent upon
so what's happened to the deficit, the annual deficit? 2008 deficit was $458 billion. too much money. yes. but $458 billion. deficit in 2013, 2012, $1.3 trillion. so what's the problem? ladies and gentlemen, i would suggest to you we have a spending debt crisis, not a revenue debt crisis. and you've got to make the right diagnosis. to put it in a little greater context. we spend about $3.6 trillion as a nation, as a whole each year, $3.6 trillion, about $2.5 trillion, $2.6 trillion is medicare,...
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it says our deficit for this year will only be $845 billion. this is considered good news, because for the past few years, it's been over a trillion dollars. when spending more than $800 billion than we take in is viewed as progress, it's time to get serious. let's hope for the good of our country, our lawmakers do just that. have a great night, everybody. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. magic kingdom. disney's been the happiest place on earth for investors. why mickey mouse is still a good bet. tech troubles. it's the worst sector so far this year. tom picks that benefit from the mobile revolution. and blackberry brawl. can the momentum continue for blackberry? dan and guy duke it out in a smartphone street fight. first, let's get straight to breaking news here. shares of hewlett-packard surging on reports that the board is studying potential breakup scenarios. jon fortt has the latest. fact or fiction here? >> melissa -- fact, but not extremely exciting fact
it says our deficit for this year will only be $845 billion. this is considered good news, because for the past few years, it's been over a trillion dollars. when spending more than $800 billion than we take in is viewed as progress, it's time to get serious. let's hope for the good of our country, our lawmakers do just that. have a great night, everybody. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee....
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. >> industrial demand in platinum and a supply deficit in platinum. >> all right. guy? >> funny you should bring up bacon, mel. >> why? >> i don't know if this is the top trade of the day necessarily, but you scoffed at me, at jack -- >> you always say i scoff, but i -- >> you do scoff, unrelated to this. >> jack in the box has been a monster. i understand valuation is a stretch. and i understand that people bet against the stock and lose. i think they will continue to do so into earnings, which i believe come out next week. >> why is that speaking of bacon. >> don't they make burgers and those things -- >> i don't know. it's your trade. >> qdoba, we're going there for valentine's day. >> that's your present to me? you just blew it. no surprise. karen? >> xlf. we own a number of, you know, jpmorgan, bank of america, citibank, but i like the xlf. i would still, if you want want to pick a particular name, i know it was up a fair amount recently, but i think we're not so far along in the story of recovering in financials. >> and beekers? >> well, my top trade is just the m
. >> industrial demand in platinum and a supply deficit in platinum. >> all right. guy? >> funny you should bring up bacon, mel. >> why? >> i don't know if this is the top trade of the day necessarily, but you scoffed at me, at jack -- >> you always say i scoff, but i -- >> you do scoff, unrelated to this. >> jack in the box has been a monster. i understand valuation is a stretch. and i understand that people bet against the stock and lose. i...
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a push at the hard things to be passed, immigration reform and necessary which is dealing with the deficit? that sounds logical as a pattern for the speech because they're the hot topics. >> when you're president you can't just deal with one issue and the economy is the top priority for most americans. the president will i think rightly address the issue and talk about the issue of gun violence, definitely talk about climate issue and the issue of immigration and he'll ask congress to do something. this is not the previous congress was not a very active congress and this congress doesn't appear to be shaping up to be much better and the president attempt to in the future act by executive order and make decisions in that way if congress is not willing to do anything and step up to the plate and i think that molly made an excellent point, too, about the messenger and the message of the republicans divided about because the real issue for the gop is not just the message. they can't agree on the messenger, the reason why rubio and paul both giving responses to the president's state of the unio
a push at the hard things to be passed, immigration reform and necessary which is dealing with the deficit? that sounds logical as a pattern for the speech because they're the hot topics. >> when you're president you can't just deal with one issue and the economy is the top priority for most americans. the president will i think rightly address the issue and talk about the issue of gun violence, definitely talk about climate issue and the issue of immigration and he'll ask congress to do...
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. >> if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me. i like to think that mikan dore and bluntness will reassure you you will get straight answers from me, maybe not always the ones you like, but you will get answers and they will reflect my honest views. >> senator, you've been one of the most high-profile critics of the administration for not giving as much information particularly the legal documentation underpinning the targeting of u.s. citizens. is there a current trust deficit between the senate intelligence committee and the administration, and can someone like john brennan heal it or not? >> he did move in the right direction in a number of areas. i was very pleased when he said that if a mistake was made on a targeted killing matter, he'd make a public acknowledgement, something like that. i think he did take some steps in the right direction and the president did as well when he called on wednesday night and said he would reverse course and make additional materials available with respect to the legal analysis for targ
. >> if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me. i like to think that mikan dore and bluntness will reassure you you will get straight answers from me, maybe not always the ones you like, but you will get answers and they will reflect my honest views. >> senator, you've been one of the most high-profile critics of the administration for not giving as much information particularly the legal documentation underpinning the...
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Feb 6, 2013
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the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to be paying a lot of money on that debt, and it's going to crowd out vital public services. and that's why we had to worry about the debt all along. and we didn't. now it's built up. now we're facing reality. i thought it was a little odd. the president said, well, we have to do something, but he didn't offer anything to do because the main part he played was two months ago, he said, let's make the tax cuts permanent, both sides, and now we see, well, you can't afford that. >> you talk about paul krugman -- >> that's what they
the deficit's going down. this year alone, medicare, medicaid, social security and interest on the debt consumes every dollar that washington takes in. this is such a crisis, and it's growing. >> well, this whole idea that don't worry about the debt, you had a little tangle with the krugman a couple of weeks ago. this exposes how wrong the view is. don't worry about the debt because the debt has built to a large number what the congressional budget office is showing is that we're going to...
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Feb 12, 2013
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third quarter, a two-point deficit for charlotte. sessions finished with 19 off the bench. fourth quarter, bobcats down three. avery bradley, known for his on-the-ball defense, instead going airborne for the swat. later in the fourth, bobcats down three. off the miss. the follow-up dunk. sessions knocks down the jumper. charlotte up one. a three-point lead. avery bradley with a chance for the tie. or the loss. boston's seven-game win streak is over. celtics first lost without rajon rondo. >> decent highlights. but not one of those guys can touch this highlight. >> this is crazy. check out a youngster named anna olson last friday, making the shot of a lifetime. look at that. her nearly full-court shot went in with a bounce and a little help from the rim. wait for it. boom. there it is. even though her team was on the road, even the home fans couldn't help but shriek with excitement. nicely done. nicely done. >> wow. now, that is something she is going to remember forever. >> don't forget that. >>> up next, your fat tuesday "pulse." >>> plus, forget the java. how about a brea
third quarter, a two-point deficit for charlotte. sessions finished with 19 off the bench. fourth quarter, bobcats down three. avery bradley, known for his on-the-ball defense, instead going airborne for the swat. later in the fourth, bobcats down three. off the miss. the follow-up dunk. sessions knocks down the jumper. charlotte up one. a three-point lead. avery bradley with a chance for the tie. or the loss. boston's seven-game win streak is over. celtics first lost without rajon rondo....
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Feb 4, 2013
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president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in the power system triggered an automatic shutdown forcing backup sy
president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should...
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Feb 11, 2013
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but i think everybody's going to put something in the pot in order to balance the deficit. we did a lousy job in january on the tax side and i hope that -- i think it's better to go over the cliff than do a lousy job -- >> how many people do you know on your side of the field who actually agree with you? >> very few. look they're politicians. they want to spend as much money as they possibly can and they don't want to pay for it. >> who agrees with you? >> oh, i don't know. i bet -- oh, god, joe agrees with me. >> you forgot. the other thing, howard, and i'm just alluding to it, there will be no return to the bush era tax rates on anyone under $400,000? >> right. >> okay. so take that amount of money, whatever that is per year. how much do you need -- how many loopholes do you need to close? what is the marginal rate have to be on people above 400 to replace that potential revenue? it's 100%, isn't it? >> but i don't -- i think the tax rates -- you and i have disagreed on raising taxes. but i don't think they can go any higher or should go higher. >> on the high end. >> i d
but i think everybody's going to put something in the pot in order to balance the deficit. we did a lousy job in january on the tax side and i hope that -- i think it's better to go over the cliff than do a lousy job -- >> how many people do you know on your side of the field who actually agree with you? >> very few. look they're politicians. they want to spend as much money as they possibly can and they don't want to pay for it. >> who agrees with you? >> oh, i don't...
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reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be clear we need to do smart entitlement reform and having sensible savings. he will stress it has to be done in a balanced way that means you could raise some revenues through closing loopholes as part of tax reform and try to suggest that this type of bipartisan compromise where you focus on both spending cuts and revenues together. if we follow that path we can avoid the harsh impacts on the economy and shut down and threats of default that we think will only happen if people take an ideological position and say we can't have a single penny and all deficit
reducing the deficit is important to all americans. how specifically will he get tonight to talk to what cuts need to be made? >> i think he will make at least three points. we have as ugly as it has been, we have cut the deficit and the majority of that has been through spending cuts. there have been rev you ins on the top 1%. he will make clear we need to go further to get the deficit reduction that we need to do and he will make a call for bipartisanship and compromise. he will be...
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Feb 9, 2013
02/13
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they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] life brings obstacles. usaa brings retirement advice. call or visit us online. we're ready to help. learn more with our free usaa retirement guide. call 877-242-usaa. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love.
they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically...
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address in tonight's state of the union address. 5% said health care, 3% say immigration reform, 35% say deficit reduction. but the majority, 51%, economy and jobs. >> think he will. about 60 million people will read -- read -- the "sports illustrated" swimsuit issue. same way they really like the interviews in "playboy." jokes, drools aside, 60 million people will flip through the magazine. yet again, it has made a superstar out of a cover model. brian shactman back at headquarters with that model. brian. brian. >> hi, guys, ready for the interview right now? >> if you like. >> here we go. >> he's distracted. >> we're having a conversation here. i'm here with kate upton, the cover of the si swimsuit edition. that was a bit of a surprise. obviously welcome to cnbc. >> thank you. >> the second year in a row, tyra banks, el mcpherson, legends in the business, what does that mean for you? >> it means so much. i was so excited to go to antartica because no other fashion magazine has ever been there. so i was making history. but now i'm a part of history by being with people like that in double cover
address in tonight's state of the union address. 5% said health care, 3% say immigration reform, 35% say deficit reduction. but the majority, 51%, economy and jobs. >> think he will. about 60 million people will read -- read -- the "sports illustrated" swimsuit issue. same way they really like the interviews in "playboy." jokes, drools aside, 60 million people will flip through the magazine. yet again, it has made a superstar out of a cover model. brian shactman back...
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we blew a hole in the deficit, added $5 trillion to the deficit. and we took a surplus into deep debt. we got to stop that you're absolutely right. >> doubling down. >> yes. >> i saw glimmers of hope with the terrapins. i don't know. >> there are glimmers of hope and they did pretty well from time to time. saturday, as you saw, joe, was not a good game for us. we didn't play our a game. but when we play our "a" game we got a lot of freshmen, sophomore -- dominant center right now. but he's going to be. and we're going to have a very, very good team as time goes by. but they had a bad game on saturday but they had a good game away at virginia tech before that. so, i'm very hopeful that they're going to do well coming forward, and next year. >> any progress on -- do i need to raise some money for the steny hoyer statute? the boomer esiason statue at -- on the campus. and i said where is this steny hoyer statue? and people looked at me like, i don't know. i'm working on that. you want me to -- >> you're chairman, joe. i thought i appointed you chairma
we blew a hole in the deficit, added $5 trillion to the deficit. and we took a surplus into deep debt. we got to stop that you're absolutely right. >> doubling down. >> yes. >> i saw glimmers of hope with the terrapins. i don't know. >> there are glimmers of hope and they did pretty well from time to time. saturday, as you saw, joe, was not a good game for us. we didn't play our a game. but when we play our "a" game we got a lot of freshmen, sophomore --...
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they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top stories. steve? >> thank you, michelle. disney posting better than expected earnings and revenues after the bell. the company says it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks. ceo bob iegory was on cnbc's "closing bell." >> you had a lot of ins and outs. basically, the trendser good. we had strong results at our domestic parks. the bookings have been pretty solid. advertising was okay. and generally speaking, our business performed well. and our interactive media group was profitable for the quarter. that's the first time the group has been p
they're among the leaders the obama administration is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top...
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and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together at least a little bit and talk about what they may get done in this new congress that's meeting now. instead, you have a president who is planning to give perhaps a more partisan speech and a republican speaker laying down the gauntlet before this speech and saying he doesn't think the president has the guts to cut spending and really tackle the deficit. >> alisyn: that does not sound like a harbinger of coming together of both sides. >> they'll be up there tonight together. so that could make for an interesting little moment. >> alisyn: all right, we will be on the lookout for all of those moments, ed
and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together...
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Feb 8, 2013
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we have been running a deficit for years, as you know, sue. but this time it is narrower than anticipated. remember it was negative. 0.1. a positive print on gdp likely when the revision comes in. you see the big pop there this morning? that's because of the trade numbers overall. so good numbers, good day overall. don't worry about volume and we are staying until the bitter end, sue? >> indeed you are, bob. appreciate it. meanwhile, big snowstorm is bearing down on the northeast nap is sending fuel prices to new highs for 2013. sharon epperson tracks the action for us at the nyse pits. hi, sharon. >> hi. already paying the highest gasoline prices for this time of year, now many in the northeast who heat homes with heating oil will be hit with record high home heating bills as well. we are looking at prices just this week alone for heating oil few furs surge 3% leading energy markets higher here and we are continuing to watch what is happening in terms of the percentage of homes in the northeast that use heating oil. of course it is only 6% of
we have been running a deficit for years, as you know, sue. but this time it is narrower than anticipated. remember it was negative. 0.1. a positive print on gdp likely when the revision comes in. you see the big pop there this morning? that's because of the trade numbers overall. so good numbers, good day overall. don't worry about volume and we are staying until the bitter end, sue? >> indeed you are, bob. appreciate it. meanwhile, big snowstorm is bearing down on the northeast nap is...
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let's reform the defense budget and look at the largest drivers of our deficit in mandate spending programs those on the left end of the spectrum don't want to cut. >>brian: they took gates cuts and are going try to up them by $500 billion. leon panetta takes over from them. has the same fear. here's what he said yesterday on "meet the press." >> we've got a plan for that possibility because there are so many members saying we're going to let it take place, but i have to tell you it is irresponsible for it to happen. i mean, why -- why in god's name would members of congress elected by the american people take a step that would badly damage our national defense, but more importantly undermine the support for our men and women in uniform? why would you do that? >>brian: that is inaccurate. it is the president who proposed these sequester cuts. this isn't congress doing that. and republican fear about these cuts, would you say that's accurate? >> i would say it's accurate. there is a growing resignation to them on the hill for some reason. i was there two weeks ago. everyone seems resigned to
let's reform the defense budget and look at the largest drivers of our deficit in mandate spending programs those on the left end of the spectrum don't want to cut. >>brian: they took gates cuts and are going try to up them by $500 billion. leon panetta takes over from them. has the same fear. here's what he said yesterday on "meet the press." >> we've got a plan for that possibility because there are so many members saying we're going to let it take place, but i have to...
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it's strong on terror but relatively low cost in this time of massive deficits? >> i think it's another tool in the tool box for our military. i think it's interesting what you talk about. president obama does sell this to the democrats is this allows us not to have boots on the ground. from a republican point of view, it's an issue we can use, be safe, keep up with what's going on, and not as expensive as other programs. >> the only thing that i'm cautious about is i almost look at it as working a video game, and there's something redifferent in being able to remotely kill someone than have to actually put a person in front of you. that's something we have to be cautious of. >> marjorie clifton, chip saltzman, thank you. >>> still ahead, the hunt for a rogue ex-cop is intensifies. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. i honestly loved smoking, and i honestly didn't think i wou
it's strong on terror but relatively low cost in this time of massive deficits? >> i think it's another tool in the tool box for our military. i think it's interesting what you talk about. president obama does sell this to the democrats is this allows us not to have boots on the ground. from a republican point of view, it's an issue we can use, be safe, keep up with what's going on, and not as expensive as other programs. >> the only thing that i'm cautious about is i almost look at...